Comments on Proposed Rule:Short Sales

Release No. 34-42037; File No. S7-24-99

Author: jbarry@a-znet.com at Internet
Date: 07/04/2000 9:45 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 21:45:59 2000,
The following information was submitted:
Host: 209.2.143.211
submit_by = jbarry@a-znet.com
Name = Jason Barry
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: njspeedo@xaranda.net at Internet
Date: 07/04/2000 11:08 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 11:08:43 2000,
The following information was submitted:
Host: 12.4.108.212
submit_by = njspeedo@xaranda.net
Name = norman james boyce
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: lani914@home.com at Internet
Date: 07/04/2000 10:01 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 10:01:43 2000,
The following information was submitted:
Host: 24.4.254.44
submit_by = lani914@home.com
Name = Richard Brand
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: sbrock6677@aol.com at Internet
Date: 07/04/2000 9:01 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 09:01:16 2000,
The following information was submitted:
Host: 216.192.34.30
submit_by = sbrock6677@aol.com
Name = sam brock
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: kbrown45@hotmail.com at Internet
Date: 07/04/2000 6:10 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 18:10:19 2000,
The following information was submitted:
Host: 216.203.166.231
submit_by = kbrown45@hotmail.com
Name = Kevin Brown
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Kevin Brown
Dallas, Texas

Author: wc2f@yahoo.com at Internet
Date: 07/04/2000 1:54 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 13:54:57 2000,
The following information was submitted:
Host: 209.191.25.41
submit_by = wc2f@yahoo.com
Name = Frank Caperello
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: philipcasavant@hotmail.com at Internet
Date: 07/04/2000 2:39 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 14:39:20 2000,
The following information was submitted:
Host: 24.128.48.64
submit_by = philipcasavant@hotmail.com
Name = Philip A. Casavant
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: cwc@merichem.com at Internet
Date: 07/04/2000 2:29 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 14:29:30 2000,
The following information was submitted:
Host: 152.163.201.49
submit_by = cwc@merichem.com
Name = C.W. Coffey
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: takman@home.com at Internet
Date: 07/04/2000 10:23 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 10:23:30 2000,
The following information was submitted:
Host: 24.0.176.209
submit_by = takman@home.com
Name = Tim Cross
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: omoucluap@aol.com at Internet
Date: 07/04/2000 1:28 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 13:28:00 2000,
The following information was submitted:
Host: 152.163.206.211
submit_by = omoucluap@aol.com
Name = Paul Cuomo
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: RobertxLee@aol.com at Internet
Date: 07/05/2000 7:13 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 07:13:06 2000,
The following information was submitted:
Host: 172.164.19.65
submit_by = RobertxLee@aol.com
Name = Robert L. Dill
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: ldouds00@home.com at Internet
Date: 07/05/2000 9:43 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 09:43:18 2000,
The following information was submitted:
Host: 24.4.252.4
submit_by = ldouds00@home.com
Name = Lee Douds
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: uf@ullrich-fischer.com at Internet
Date: 07/05/2000 9:26 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 09:26:23 2000,
The following information was submitted:
Host: 216.232.114.201
submit_by = uf@ullrich-fischer.com
Name = Ullrich Fischer
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: haygar@zdnetmail.com at Internet
Date: 07/05/2000 8:37 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 08:37:09 2000,
The following information was submitted:
Host: 24.216.25.15
submit_by = haygar@zdnetmail.com
Name = Heywood Lee Garth
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: beacon@telicity.com at Internet
Date: 07/04/2000 2:07 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 14:07:04 2000,
The following information was submitted:
Host: 216.227.41.37
submit_by = beacon@telicity.com
Name = Kerry Goodson
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: Wgraham564@aol.com at Internet
Date: 07/04/2000 1:47 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 13:47:22 2000,
The following information was submitted:
Host: 205.188.193.56
submit_by = Wgraham564@aol.com
Name = Walter E Graham
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: rusgus@netsync.net at Internet
Date: 07/04/2000 8:11 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 20:11:33 2000,
The following information was submitted:
Host: 206.159.156.163
submit_by = rusgus@netsync.net
Name = Russell Gustin
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: slhammock@mindspring.com at Internet
Date: 07/05/2000 10:26 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 10:26:49 2000,
The following information was submitted:
Host: 209.86.85.122
submit_by = slhammock@mindspring.com
Name = Stephen Hammock
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: dholohan@home.com at Internet
Date: 07/05/2000 1:48 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 01:48:50 2000,
The following information was submitted:
Host: 24.4.252.72
submit_by = dholohan@home.com
Name = Daniel Holohan
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: cyber-trading@austin.rr.com at Internet
Date: 07/04/2000 11:37 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 11:37:30 2000,
The following information was submitted:
Host: 24.27.60.123
submit_by = cyber-trading@austin.rr.com
Name = tuan hong
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: hhussaini@england.com at Internet
Date: 07/05/2000 11:25 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 11:25:33 2000,
The following information was submitted:
Host: 194.170.168.229
submit_by = hhussaini@england.com
Name = ismail hussaini
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation. ex:loch

Author: barry6575@aol.com at Internet
Date: 07/04/2000 8:30 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 20:30:40 2000,
The following information was submitted:
Host: 152.163.205.21
submit_by = barry6575@aol.com
Name = Barry Lancaster
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: llasko@aol.com at Internet
Date: 07/05/2000 7:13 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 07:13:35 2000,
The following information was submitted:
Host: 136.1.1.101
submit_by = llasko@aol.com
Name = Louis J. Lasko
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: lynchje@home.com at Internet
Date: 07/05/2000 1:46 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 01:46:42 2000,
The following information was submitted:
Host: 24.4.252.72
submit_by = lynchje@home.com
Name = James E Lynch
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: lynchliz@home.com at Internet
Date: 07/05/2000 1:44 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 01:44:42 2000,
The following information was submitted:
Host: 24.4.252.72
submit_by = lynchliz@home.com
Name = Elizabeth V Lynch
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: scottmacm@ragingbull.com at Internet
Date: 07/04/2000 8:58 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 08:58:47 2000,
The following information was submitted:
Host: 209.86.186.72
submit_by = scottmacm@ragingbull.com
Name = Scott MacMillan
Professional_Affiliation = Investor
Subject = Market Makers
Comments = The idea that market makers ("MMs") do anything to benefit the
markets, through short selling or otherwise, is outdated. It is not reasonable
to believe that MMs contribute to an "efficient market" when their trading
practices are so often coordinated and designed to benefit only themselves. Any
benefit the markets might derive from the activities of MMs is pure coincidence.
The MMs do not have any responsibility to provide benefits to the markets. There
are no rules or regulations that require them to do so, or to make any effort to
do so. To allow them to operate almost unchecked based on the premise that they
"might" do something positive when their own behavior is intended to be
self-serving is naive.
Many investors are literally afraid to invested in OTCBB stocks because of the
ability of MMs to manipulate those stocks.
MMs should not be allowed to sell short in their own accounts. Their interests
should, by law, have to be consistent with the interests of their clients.
You are taking too long to deal with this matter. Public hearings are worthless
when it comes to esoteric matters such as those at issue here. Most "investors"
think "MM" is a candy, "M&Ms."
The solution is simple: Change the rules so MMs cannot manipulate stock prices.
You know many people object to "Big Brother" (the government) watching out for
us, yet you put the MMs in that very role with respect to the markets. They
watch out only for themselves.
Thank you.
Scott MacMillan
2400 N.W. 40th Circle
Boca Raton, FL 33431

Author: kthlnirish@aol.com at Internet
Date: 07/05/2000 9:34 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 09:34:09 2000,
The following information was submitted:
Host: 205.188.199.29
submit_by = kthlnirish@aol.com
Name = kathleen mallon
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: mayoro@nsu.law.nova.edu at Internet
Date: 07/04/2000 11:23 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 11:23:47 2000,
The following information was submitted:
Host: 137.52.200.64
submit_by = mayoro@nsu.law.nova.edu
Name = Orfelia Mayor
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: melanco7@home.com at Internet
Date: 07/04/2000 8:07 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 08:07:47 2000,
The following information was submitted:
Host: 24.4.254.164
submit_by = melanco7@home.com
Name = Madelene D. Melancon
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: eemoon@aol.com at Internet
Date: 07/05/2000 10:57 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 10:57:57 2000,
The following information was submitted:
Host: 192.58.199.178
submit_by = eemoon@aol.com
Name = Edward Earl Moon
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: bpeters6@home.com at Internet
Date: 07/05/2000 10:47 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 10:47:23 2000,
The following information was submitted:
Host: 216.58.126.158
submit_by = bpeters6@home.com
Name = Robert Peters
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: rapetty@attglobal.net at Internet
Date: 07/04/2000 12:10 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 12:10:12 2000,
The following information was submitted:
Host: 32.101.180.103
submit_by = rapetty@attglobal.net
Name = Robert A. Petty
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: ed.phillips@acsalaska.net at Internet
Date: 07/04/2000 3:18 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 15:18:13 2000,
The following information was submitted:
Host: 208.138.132.223
submit_by = ed.phillips@acsalaska.net
Name = Edwin Phillips
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing first of all to tell you I am so tired of seeing
unnatural movements in the over the conter stocks that I hold or an coerced to
sell/buy. It is time to go to an electronic alternate trading system. The
Money Market Manipulators are going to be impossible to avoid otherwise.
Secondly, I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: "Marc J. Rabinowitz" at Internet
Date: 07/03/2000 2:59 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: File No. S7-24-99
------------------------------- Message Contents
RE: Unregulated Short Sales by Market Makers on the OTCBB
Dear Sirs:
While I am generally in favor of less government intervention in our lives,
I feel that it is necessary for stronger regularion of Market Makers in
OTCBB securities.
The lack of reporting requirements and other regulations allows a Market
Maker to artificially hold down the price of a security. This practice
gives rise to an investor's lack of confidence in the markets integrity. It
also gives an appearance of impropriety, and scares some investors away.
I urge you to enact stricter regulations on the OTCBB Market Makers and put
back confidence in our markets.
Thank you for your kind attention.
Sincerely,
Marc J. Rabinowitz, Esq.

Author: sirnasdaq@aol.com at Internet
Date: 07/04/2000 4:24 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 16:24:56 2000,
The following information was submitted:
Host: 152.163.207.64
submit_by = sirnasdaq@aol.com
Name = Richard B. Roberts
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: glr@glrconsulting.com at Internet
Date: 07/04/2000 1:49 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 13:49:32 2000,
The following information was submitted:
Host: 207.207.232.134
submit_by = glr@glrconsulting.com
Name = Gary Rumble
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: freeme2@usa.net at Internet
Date: 07/05/2000 9:24 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 09:24:36 2000,
The following information was submitted:
Host: 209.131.14.1
submit_by = freeme2@usa.net
Name = gary salata
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: maverick@chesapeake.net at Internet
Date: 07/05/2000 7:21 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 07:21:07 2000,
The following information was submitted:
Host: 4.17.82.17
submit_by = maverick@chesapeake.net
Name = Barbara Scanlan
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: mo999@home.com at Internet
Date: 07/05/2000 1:48 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 01:48:05 2000,
The following information was submitted:
Host: 24.4.252.72
submit_by = mo999@home.com
Name = Maurice K Shaw
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: reid.shumate@gte.net at Internet
Date: 07/05/2000 7:09 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 07:09:43 2000,
The following information was submitted:
Host: 4.3.32.232
submit_by = reid.shumate@gte.net
Name = Reid Shumate
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: jsilva1313@hotmail.com at Internet
Date: 07/05/2000 7:48 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 07:48:45 2000,
The following information was submitted:
Host: 208.236.123.135
submit_by = jsilva1313@hotmail.com
Name = John Silva
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: JStea1@aol.com at Internet
Date: 07/04/2000 12:24 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 12:24:35 2000,
The following information was submitted:
Host: 205.188.192.156
submit_by = JStea1@aol.com
Name = John Stea
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: chas08@earthlink.net at Internet
Date: 07/04/2000 8:26 PM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 20:26:31 2000,
The following information was submitted:
Host: 38.33.11.17
submit_by = chas08@earthlink.net
Name = Charles Tapp
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: wew_us@yahoo.com at Internet
Date: 07/04/2000 10:43 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 10:43:37 2000,
The following information was submitted:
Host: 12.75.130.241
submit_by = wew_us@yahoo.com
Name = Waldtraud E. Wahlquist
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.
Sincerely,
Waldtraud E. Wahlquist

Author: wallingsg@home.com at Internet
Date: 07/05/2000 1:47 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 01:47:28 2000,
The following information was submitted:
Host: 24.4.252.72
submit_by = wallingsg@home.com
Name = Steven G Walling
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: billyw1@tcainternet.com at Internet
Date: 07/05/2000 9:53 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 09:53:33 2000,
The following information was submitted:
Host: 208.180.60.84
submit_by = billyw1@tcainternet.com
Name = Billy E. Ward
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: dlorah@home.com at Internet
Date: 07/05/2000 4:36 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Wed Jul 5 04:36:53 2000,
The following information was submitted:
Host: 157.127.124.141
submit_by = dlorah@home.com
Name = Harold William Wintemberg
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.

Author: edward.zarate@ci.sj.ca.us at Internet
Date: 07/04/2000 10:57 AM
Normal
TO: RULE-COMMENTS at 03SEC
Subject: Rule S7-24-99
------------------------------- Message Contents
On Tue Jul 4 10:57:50 2000,
The following information was submitted:
Host: 156.39.136.220
submit_by = edward.zarate@ci.sj.ca.us
Name = edward zarate
Professional_Affiliation = Investor
Subject = Short Sales (Release No. 34-42037; File No. S7-24-99)
Comments = I am writing you this letter to show that I am in favor of the
proposed Concept Release (No. 34-42037; File No. S7-24-99). It is known that the
life blood of a small company is access to capital for creation and growth. It
is also known that investors who place funds in such companies expect and
deserve protection from fraud and manipulation. Small business is a critical
building block for jobs and wealth in our economy. MMs have steadily been
selling more shares than they have bought, defying the laws of supply and
demand, solid company fundamentals and favorable company press releases,
resulting in plummeting stock prices. The laws of supply and demand have been
denied and investors deprived of fair value. Meanwhile, the company valuation of
stock has been greatly reduced and with it, access to investment capital for
acquisitions and growth.
The MMs are supposed to provide a fair market trading mechanism, yet ,when they
become invested through shorting, they actually have a vested interest in seeing
the price fall. This practice must be brought under some form of control.
The Securities Act provides certain protective language as it relates to
investors. Section 15A(b)(6) of the Securities Act says that the rules of a
national securities association must be designed, among other things to prevent
fraudulent and manipulative acts and practices and to protect investors and the
public interest, and perfect the mechanism of a free and open market. Section
15A(b)(11) requires that association rules be designed to produce fair and
information quotations, and to prevent fictitious and misleading quotations. In
spite of the intent expressed by these two sections of the Securities Act, and
unlike the Nasdaq, NYSE and AMEX, MMs are not required by the SEC to disclose
short positions on OTCBB stocks.
The MMs can short, even naked short, at will with no checks and balances on
OTCBB stocks. This leaves the OTCBB listed companies prey to market manipulation
on a scale only limited by the greed and imagination of the MMs. The MMs just
keep selling the targeted companies stocks with the idea that they will never
have to produce real shares. Their apparent goal is to force the company to fail
by depriving it of working capital and discouraging investment. It is my belief
billions of dollars are being stolen from investors in this manner. For the MMs,
it's a wonderful business; sort of like selling insurance, but never having to
pay claims. They get the money, but have no expense or expectation of delivering
anything tangible in return. This unfair and counter productive practice cannot
go on.
MMs must be held accountable by requiring mandatory disclosure of MM short
positions on all OTCBB listed stocks. In this manner, excessive shorting can be
made known to the investing public, monitored for excess and corrected by the
SEC/NASD. Then and only then can investors in these stocks be treated with the
appropriate protection against fraud and manipulation.